Zinc futures soften on muted demand

Traders said the weakness in zinc at futures trade was mostly due to cutting down of bets by speculators. However, a better trend in select base metals overseas capped the losses.

Zinc futures traded 0.3 percent lower at Rs 197.80 per kg as speculators trimmed positions amid subdued demand at the physical markets. Zinc for delivery in March fell by 60 paise, or 0.3 percent, to Rs 197.80 at the Multi Commodity Exchange, clocking a business turnover of 6,307 lots.

Traders said the weakness in zinc at futures trade was mostly due to cutting down of bets by speculators. However, a better trend in select base metals overseas capped the losses.